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Certificate IV in Accounting and Bookkeeping: Get to Know the New FNS40217
Note: All current Inspire students from the Certificate IV Accounting and the Certificate IV Bookkeeping courses with enrolment end dates after 11 February 2019 will be transitioned to the new FNS40217 – Certificate IV in Accounting and Bookkeeping qualification at no cost.
The Australian Government’s Department of Education and Training has made significant announcement regarding the changes they to the Financial Services training package.
Five qualifications have been removed from the National Register and have been replaced as listed below:
- FNS30315 Cert III in Accounts Administration replaced with FNS30317 Certificate III in Accounts Administration
- FNS40215 Cert IV in Bookkeeping replaced with FNS40217 Certificate IV in Accounting and Bookkeeping
- FNS40615 Cert IV in Accounting replaced with FNS40217 Certificate IV in Accounting and Bookkeeping
- FNS50215 Diploma of Accounting replaced with FNS50217 Diploma of Accounting
- FNS60215 Advanced Diploma of Accounting replaced with FNS60217 Advanced Diploma of Accounting
The most notable of these changes is the merging of Cert IV in Accounting and Cert IV in Bookkeeping to form the new FNS40217 Cert IV in Accounting and Bookkeeping Course.
Feel free to click here and enquire now to get the latest news and updates for your Cert IV Accounting and Bookkeeping Course.
I. What’s New with the FNS40217?
This new qualification in the Financial Services is a result of many industry and association meetings over the 1-2 year span of assessing the latest needs in bookkeeping and accounting education.
You will now get a taste of the wider variety of units in the industry and then have the opportunity to specialise later. The new Certificate in Accounting and Bookkeeping gets you qualified as a bookkeeper and then lets you specialise in accounting, should you feel the need to pursue that path later in your career. Some people think that they want to be accountants but in fact, would be better off and more suited as bookkeepers and vice-versa.
The merging of the Cert IV in Bookkeeping and Cert IV in Accounting into a single course gives students more flexibility in determining career pathway.
II. Cert IV Accounting and Bookkeeping Course Units
The Certificate IV in Accounting and Bookkeeping has a total of 13 units of competency, which is comprised of 8 core units plus 5 elective units.
- ▪ BSBFIA401 Prepare financial reports
- ▪ BSBSMB412 Introduce cloud computing into business operations
- ▪ FNSACC311 Process financial transactions and extract interim reports
- ▪ FNSACC312 Administer subsidiary accounts and ledgers
- ▪ FNSACC408 Work effectively in the accounting and bookkeeping industry
- ▪ FNSACC416 Set up and operate a computerised accounting system
- ▪ FNSTPB401 Complete business activity and instalment activity statements
- ▪ FNSTPB402 Establish and maintain payroll systems
For elective units, the following criteria should be observed as stated in the National Register, the official Australian Government database for Vocational Educational and Training.
- ▪ Relevant to the work environment and the qualification
- ▪ Maintain the integrity of the AQF alignment
- ▪ Contribute to a valid industry-supported vocational outcome
- ▪ 2 units may be from a Cert III, Cert IV or Diploma in any currently endorsed training package or accredited course, provided they do not duplicate the outcome of another unit chosen for the qualification.
Click here to visit training.gov.au for the complete list of elective units, and to know more about the course itself.
III. What Does This Mean for Accounting and Bookkeeping Students?
If you are a current student of the FNS40215 Cert IV in Bookkeeping and FNS40615 Cert IV in Accounting, Inspire Education will provide transition programs for you to pursue the newest qualification in the Finance industry.
It is expected that in February 2019, all students who were previously taking the FNS40215 and FNS40615 courses must be transitioned into the new FNS40217 course.
If you have more questions, feel free to click here and visit Inspire’s course page to get the latest news and updates.
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